ABU DHABI, 15th May, 2018 (WAM) -- The Air Transport Agreement signed between the United Arab Emirates and the United States in 2002 is the legal framework governing the air transport relationship between the two countries and reflects the open skies policy adopted by both countries. On 11th May 2018, the two sides signed a Record of Discussion reflecting the strong relationship and the importance of the civil aviation sector as one of the pillars that enhance the economic development of both countries.

Sultan bin Saeed Al Mansoori, Minister of Economy and Chairman of the General Authority of Civil Aviation, said that the signing of this Record of Discussion between the two countries reflects the interest of the two countries in this important economic sector and in the strengthening of economic and trade ties between the UAE and the United States. In addition, this action creates the possibility of establishing economic partnerships to serve the development agendas of the two friendly countries.

"The United Arab Emirates is pleased that our agreement with the United States on this matter will enhance the air transport relations between the two countries and will support the open skies policy and will be in the interest of the passengers and airlines in both countries," said Yousuf Al Otaiba, UAE Ambassador to the US.

Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority, who chaired the meetings, said that since the signing of the Air Transport Agreement between the two countries, the UAE has been fully committed to it. "Our national carriers operate within the legal framework of the agreement and comply fully with all its provisions in full recognition of the role of air transport relations in maintaining excellent relations between the two countries at all levels," he said.

In the signed Record of Discussion, the two sides reaffirmed their strong support for the 2002 Air Transport Agreement and voiced their sincere desire to maintain the many benefits the Agreement has created. They also emphasised their determination to promote international best practice in terms of market access and recognised that financial transparency is best when airlines publish and audit their financial statements in accordance with internationally recognised auditing standards.

The UAE national carriers Etihad Airways and Emirates Airline operate flights to a number of major US cities. These flights contribute billions of dollars in the US and UAE economy and support thousands of jobs in both countries and are a vital part of the trade and economic relationship. The trade exchange between the two countries amounted to about $15.7 billion and the national carriers of the UAE are the largest non-US customers of US commercial aircraft Boeing.